Reference table
Metric definitions
Defines each financial metric Vault reports, the formula behind it, and the source figures it draws on, so reviewers read them the same way.
This page defines each financial metric Vault reports, the formula behind it, and the source figures it draws on, so reviewers read them the same way. It is the reference the finance head and an auditor return to when a number on a dashboard needs pinning down.
How to read a metric
Every metric below derives from posted figures that Vault already holds. A charge carries the price in force on its service date, so a metric read over a past period reflects the prices that applied then. Falcon shows the lineage of each number, so a reviewer can trace a figure back to the postings behind it.
One split, many roll-ups
Each charge carries one split into a payer-covered share and a patient-responsible share. Invoice totals, receivables, claim slices and patient statements all derive from that one split rather than recomputing it, so the figures reconcile across every report.
Charge and revenue metrics
| Metric | How it is derived | Source figures |
|---|---|---|
| Gross charges | Sum of charges raised, before adjustments | Posted charge amounts |
| Adjustments | Sum of discounts, package inclusions, scheme concessions and caps | The pricing waterfall entries |
| Net charges | Gross charges less adjustments | Gross charges, adjustments |
| Tax | Tax raised on taxable lines, by item type | Per-line tax on each charge |
| Invoiced amount | Sum of charges assembled onto finalised invoices | Invoice totals |
| Credit notes | Sum of reversals raised against finalised invoices | Credit note amounts |
Collection and receivable metrics
| Metric | How it is derived | Source figures |
|---|---|---|
| Collections | Sum of payments received in the period | Posted payments |
| Deposits held | Deposits collected less deposits adjusted or refunded | Deposit entries |
| Outstanding receivables | Invoiced amount less collections and approved write-offs | Invoices, payments, write-offs |
| Patient share outstanding | The patient-responsible portion still unsettled | The charge split, payments |
| Days in receivables | Outstanding receivables measured against average daily net charges | Outstanding receivables, net charges |
| Write-offs | Sum of amounts written off under approval | Approved write-off entries |
Claim metrics
| Metric | How it is derived | Source figures |
|---|---|---|
| Claimed amount | Sum of amounts submitted to payers | Claim amounts at submission |
| Settled amount | Sum of amounts payers have settled | Claim settlement entries |
| Deductions | Claimed amount less settled amount on closed claims | Claimed amount, settled amount |
| Settlement rate | Settled amount measured against claimed amount | Settled amount, claimed amount |
| Claims in progress | Amount on claims submitted and awaiting an outcome | Open claim amounts |
How a metric reconciles to the ledger
Each metric traces to entries Vault holds in the double-entry ledger. A collection posts against a receivable, a credit note posts against an invoice, and a write-off posts under approval. Because a posted entry stands fixed and a correction is a fresh entry, a metric read today and the same metric read next month over the same period return the same figure. Read how the ledger holds these entries in the financial audit trail.
Common questions
Why do gross charges and net charges differ?
Gross charges are the amounts raised before any adjustment. Net charges take off discounts, package inclusions, scheme concessions and caps, so net charges reflect what the account actually carries.
Does a rate change move a past figure?
A charge carries the price in force on its service date, so a later rate change leaves earlier charges as they stood. A metric over a past period holds steady. See effective dating.
How is the patient share told apart from the payer share?
Both derive from the one split each charge carries. The patient-responsible share feeds patient-share figures, and the payer-covered share feeds claim figures.
See these figures grouped by age and payer in receivables and ageing.